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Parallax Volatility Advisers Portfolio holdings
AUM
$38.6B
1-Year Est. Return
45.89%
This Fund
S&P 500
This Quarter
Est. Return
+3.14%
1 Year Est. Return
+45.89%
3 Year Est. Return
+130.56%
5 Year Est. Return
+159.19%
10 Year Est. Return
+649.1%
AUM
$50.7B
AUM Growth
-$15.2B
(-23%)
Cap. Flow
-$16B
Cap. Flow
% of AUM
-31.47%
Top 10 Holdings %
Top 10 Hldgs %
39.98%
Holding
1,934
New
364
Increased
545
Reduced
471
Closed
329
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
American Express
AXP
|
+$263M |
| 2 |
iShares Russell 2000 ETF
IWM
|
+$154M |
| 3 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$90.9M |
| 4 |
Alibaba
BABA
|
+$47.6M |
| 5 |
Broadcom
AVGO
|
+$36.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Meta Platforms (Facebook)
META
|
+$191M |
| 2 |
NVIDIA
NVDA
|
+$134M |
| 3 |
SPDR Gold Trust
GLD
|
+$80.5M |
| 4 |
Invesco QQQ Trust
QQQ
|
+$65.2M |
| 5 |
Alphabet (Google) Class A
GOOGL
|
+$49.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 1.29% |
| 2 | Financials | 1.28% |
| 3 | Consumer Discretionary | 0.7% |
| 4 | Industrials | 0.48% |
| 5 | Communication Services | 0.15% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1126
Deutsche Bank
DB
$71.5B
| $790K | ﹤0.01% |
20,500
-6,934
| -25% | -$250K |
|
1127
PUT
Estee Lauder
EL
$32B
| $785K | ﹤0.01% |
7,500
-45,000
| -86% | -$4.37M |
|
1128
PUT
Energy Fuels
UUUU
$3.53B
| $782K | ﹤0.01% |
53,800
-20,300
| -27% | -$344K |
|
1129
PUT
Cadence Design Systems
CDNS
$93.4B
| $781K | ﹤0.01% |
2,500
| – | – |
|
1130
Arbor Realty Trust
ABR
$998M
| $779K | ﹤0.01% |
100,418
+68
| +0.1% | +$666 |
|
1131
CALL
Prologis
PLD
$133B
| $779K | ﹤0.01% |
6,100
+5,700
| +1,425% | +$710K |
|
|
FIG
1132
PUT
Figma
FIG
$12.4B
| $774K | ﹤0.01% |
+20,700
| New | +$935K |
|
1133
CALL
Adobe
ADBE
$105B
| $770K | ﹤0.01% |
+2,200
| New | +$748K |
|
1134
New Oriental
EDU
$8.98B
| $762K | ﹤0.01% |
+13,844
| New | +$759K |
|
1135
PUT
Phillips 66
PSX
$81.4B
| $748K | ﹤0.01% |
5,800
-200
| -3% | -$26.9K |
|
1136
Newell Brands
NWL
$2.56B
| $744K | ﹤0.01% |
+200,000
| New | +$808K |
|
1137
PUT
Macy's
M
$6.68B
| $743K | ﹤0.01% |
33,700
| – | – |
|
1138
CALL
SolarEdge
SEDG
$1.95B
| $724K | ﹤0.01% |
+25,100
| New | +$875K |
|
1139
PUT
Northern Trust
NTRS
$33.9B
| $724K | ﹤0.01% |
+5,300
| New | +$696K |
|
1140
AdvisorShares Pure US Cannabis ETF
MSOS
$880M
| $708K | ﹤0.01% |
150,001
-207,203
| -58% | -$923K |
|
1141
Bath & Body Works
BBWI
$4.1B
| $705K | ﹤0.01% |
+35,131
| New | +$776K |
|
1142
PUT
NXP Semiconductors
NXPI
$60.4B
| $695K | ﹤0.01% |
+3,200
| New | +$686K |
|
1143
PUT
Microchip Technology
MCHP
$46B
| $688K | ﹤0.01% |
10,800
-14,200
| -57% | -$876K |
|
1144
CALL
Kraft Heinz
KHC
$30B
| $686K | ﹤0.01% |
28,300
+800
| +3% | +$19.9K |
|
1145
CALL
Solana Company
HSDT
$98.7M
| $669K | ﹤0.01% |
+231,600
| New | +$1.53M |
|
1146
PUT
Sony
SONY
$138B
| $666K | ﹤0.01% |
26,000
+1,000
| +4% | +$28.1K |
|
1147
iShares Silver Trust
SLV
$30.7B
| $665K | ﹤0.01% |
+10,329
| New | +$517K |
|
1148
PUT
Amphenol
APH
$209B
| $662K | ﹤0.01% |
4,900
+4,800
| +4,800% | +$642K |
|
1149
PUT
Vodafone
VOD
$37.4B
| $661K | ﹤0.01% |
50,000
-150,000
| -75% | -$1.81M |
|
1150
PUT
Five Below
FIVE
$13.5B
| $659K | ﹤0.01% |
+3,500
| New | +$569K |
|
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Parallax Volatility Advisers's Q4 2025 Portfolio in Review
As of Q4 2025, Parallax Volatility Advisers held 1,934 positions worth $50.7B, down 23% from $65.9B the previous quarter. Its ten largest holdings account for 40% of the portfolio.
Parallax Volatility Advisers withdrew a net $16B in Q4 2025, closing 329 positions and reducing 471 holdings. Its most notable exit was Meta Platforms (Facebook), an estimated $191M position sold in full.
By sector, the portfolio is most concentrated in Technology at 1.3% of assets, down from 1.3% a quarter earlier, followed by Financials and Consumer Discretionary.
Against the trend, Parallax Volatility Advisers opened a new position in American Express worth $272M.
- Parallax Volatility Advisers's largest Q4 2025 buy was American Express: 733,883 shares worth $272M.
- Parallax Volatility Advisers added most to Alibaba in Q4 2025, an estimated $47.6M increase.
- Parallax Volatility Advisers's biggest Q4 2025 reduction was SPDR Gold Trust, cutting an estimated $80.5M.
- Parallax Volatility Advisers fully exited Meta Platforms (Facebook) in Q4 2025, selling an estimated $191M.
- Parallax Volatility Advisers's ten largest holdings make up 40% of its $50.7B portfolio in Q4 2025.
- Parallax Volatility Advisers opened 364 new positions and closed 329 in Q4 2025.
- Parallax Volatility Advisers's portfolio value fell 23% quarter-over-quarter to $50.7B.
Based on Parallax Volatility Advisers's 13F filing for Q4 2025, filed 17 Feb 2026.